WHIRLPOOL.NSE News
Advent's $1 billion deal talks for Whirlpool India stake collapse, sources say
MUMBAI — Global private equity firm Advent International’s talks to acquire US giant Whirlpool’s India unit for up to $1 billion have collapsed due to disagreements over valuation, four people familiar with the matter told Reuters. Advent had emerged as the frontrunner to acquire a 31 percent stake in Whirlpool of India from its Michigan-based parent, Whirlpool Corp., which would have triggered a mandatory open offer to acquire a majority stake, the sources said. In January, the US-listed home appliance maker said it had a 51 percent stake in its India unit and wanted to pare that to about 20 percent to pay off a major chunk of its debt amid a major rejig of its global assets. At the time, it had said it could get net cash proceeds of $550 million to $600 million from the sale. If Advent had acquired the 31 percent stake, it would have triggered a mandatory open offer for an additional 26 percent under Indian regulations, giving it a controlling 57 percent stake. That, the sources say, would have translated into a total deal value of $1 billion for Advent.
cityfalcon.com
Whirlpool offloads 11.2% stake in Indian unit through bulk deals
Whirlpool Corporation has sold an 11.2% stake in its Indian subsidiary, Whirlpool of India. This move is part of a larger plan to reduce its ownership. The sale generated approximately ₹1,490 crore. The parent company aims to complete its stake reduction by the first half of 2026. Proceeds will be used to repay debt.
cityfalcon.com
Indian equities scale record peaks, but end flat as profit-taking sets in
India’s equity benchmarks ended little changed on Thursday, as investors took profits after the indexes scaled record highs amid a favourable macroeconomic backdrop and boosted by hopes of a local rate cut next week. The Nifty 50 rose 0.04% to 26,215.55 and the BSE Sensex settled 0.13% higher at 85,720.38, both closing just shy of record closing high levels hit on September 2024. Meanwhile, the broader small-caps fell 0.5%, while mid-caps closed flat. The Nifty and the Sensex rose as much as 0.4% and 0.5%, respectively, earlier in the session to all-time highs of 26,310.45 and 86,055.86, driven by rate-sensitive financials amid growing conviction of policy easing by the Reserve Bank of India next week. “The market setup, at least for the large-cap benchmarks, remains very favourable for a continued rally,” said Sunny Agrawal, head of fundamental research at SBICAPS Securities. “This is supported by imminent rate-cut hopes from both the Federal Reserve and the RBI, improving domestic earnings, tax cuts, eased valuations, stable domestic flows, benign inflation and robust economic growth prospects,” Agrawal said.
cityfalcon.com
LG Electronics India listing completes price building, targets $1.24 bil. offering
LG Electronics said Wednesday it has completed the price building process for the much-anticipated listing of its Indian unit, which will debut on the local stock market Oct. 14. The price band for the offering has been set between 1,080 and 1,140 rupees per share, which is expected to raise between 1.74 trillion won ($1.24 billion) and 1.84 trillion won for the company’s headquarters. LG Electronics will sell 15 percent of its stake in the unit through an offer for sale (OFS), with subscriptions opening on Tuesday. LG Electronics said in a Korean regulatory filing that the Securities and Exchange Board of India recently granted the final approval of the Indian unit’s listing. LG Electronics expects actual gains through the listing to surpass 1.74 trillion won, given the favorable valuation of the Indian unit in the market. At the upper end of the price band, the unit’s post-listing market cap will hover over 12 trillion won, which is far higher than that of Whirlpool of India (2.4 trillion won), Voltas (7.
cityfalcon.com
Whirlpool Launches Lapis Grand Glass Door Refrigerators with Nature-Inspired Premium Design
Whirlpool of India, a subsidiary of Whirlpool Corporation and a pioneer in home appliances, proudly unveils the Lapis Grand Collection a stunning new range of Glass Door Refrigerators that blend timeless natural aesthetics with Whirlpools best-in-class cooling technologies. Inspired by the timeless elegance of the natural stones and materials of the Earth, the Lapis Grande collection is a luxurious blend of two worlds. It combines the forces of nature with cutting-edge technology. Commenting on the launch, Mr. Nakul Tewari, Vice President - Marketing, Whirlpool of India, said: With Lapis Grand, weve gone beyond just function and reimagined the refrigerator as a style statement for the modern Indian kitchen. By fusing natures artistry with Whirlpools technology, this range offers an experience that is both luxurious and deeply intuitive. Two Distinctive Finishes, Two Unique Design Stories Cavestone Forged by volcanic forces, this finish evokes the rugged strength and texture of ancient stone.
cityfalcon.com
Whirlpool Unveils Lapis Grandé – Premium Range of Glass Door Refrigerators: Redefining Modern Home Refrigeration Through Nature-Inspired Design
New Delhi [India], May 14: Whirlpool of India, a subsidiary of Whirlpool Corporation and a pioneer in home appliances, proudly unveils the Lapis Grandé Collection - a stunning new range of Glass Door Refrigerators that blend timeless natural aesthetics with Whirlpool's best-in-class cooling technologies.
cityfalcon.com
Whirlpool redefines refrigeration in its latest campaign
Whirlpool of India has launched an upgraded IntelliFresh Pro refrigerator range featuring India's fastest freezer-to-fridge conversion technology. The new refrigerators convert the freezer into a fridge in just over ten minutes, offering consumers a quick solution for extra storage. This innovation addresses the need for time-saving appliances, especially during festive seasons or when accommodating guests.
cityfalcon.com